(2 years, 1 month ago)
Commons ChamberAs I reminded my right hon. Friend the Member for Central Devon (Mel Stride), and as I said in my statement, the OBR will be coming up with a forecast, certainly before the end of the calendar year, and I shall be very interested to see and hear what it has to say.
President Putin has weaponised the cost of energy against western economies, and the measures announced today will provide welcome temporary support for our constituents during this terrible time of invasion. Can the Chancellor confirm that the measures to support business that he has announced today will also allow incentives for investment in renewable energy to continue, so that we never again allow Putin to weaponise energy against us?
My hon. Friend has made an excellent point about renewables. It is always salutary for the House to be reminded that we have 11 GW—in fact, nearly 12 GW—of installed capacity of offshore wind, which makes us second only to China in terms of the offshore wind roll-out. There is no reason why we cannot continue to lead the world in offshore wind, solar, and other forms of renewable power.
(3 years, 1 month ago)
Commons ChamberI know, as a former Treasury Minister, that my hon. Friend is very focused on making the green transition as economically successful as possible. I and others in the Government are very focused on getting a proper electric vehicle charge roll-out, and I would be happy to speak to her to discuss the plans that we have adopted.
(4 years, 9 months ago)
Commons ChamberI welcome and congratulate my hon. Friend the Member for Redcar (Jacob Young) on winning his seat—a great result. We have reduced carbon emissions by more than 40% since 1990, while growing our economy by more than two thirds. We are currently decarbonising our economy faster than any other G20 country, and more than half our electricity now comes from low-carbon sources. We have the largest offshore wind capacity in the world.
Absolutely—I would be delighted to back Redcar’s big opportunities in CCUS. I was there last week when I had an instructive meeting with various stakeholders and industry professionals, and there is a huge economic opportunity.
Businesses such as Frank Matthews tree nursery in my constituency play a vital role in growing the trees that we will need to combat climate change. How will the Department ensure that the trees we plant are native, sustainable species?
As my hon. Friend knows, the Government are absolutely behind such initiatives. We have a well-developed forest nursery sector, and we encourage the planting of UK-grown trees, as proven by our £640 million Nature4Climate fund. That builds on our support for preserving areas of great natural beauty, such as the Malvern hills in my hon. Friend’s constituency, and we hope to plant an additional 75,000 acres of trees a year by the end of the next Parliament.